Australia has one of the largest and developed markets for financial services in the Asia Pacific region – the sophistication of its financial markets is ranked among the highest in the world. Melbourne is a key financial and business centre and accounts for around one third of the Australian finance and insurance industry.
Around 75% of Australia’s licensed banks operate in Melbourne managing approximately 35% of the nation’s banking assets. And, two of Australia’s largest banks, Australia and New Zealand Banking Group Limited (ANZ) and National Australia Bank Limited (NAB) are both headquartered in Melbourne.